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Fed’s George Says Hike Pace Under Debate; Bullard Backs Big Move
Kansas City Fed President Esther George said the US central bank had already “done a lot” on raising interest rates while her St. Louis colleague James Bullard backed another 75 basis-point move next month. The Fed in July raised rates by three-quarters of a percentage point to a range of 2.25% to 2.5%, following a similar-sized hike at the June meeting, in an effort to cool price pressures that hit a 40-year high. Bullard, one of the most hawkish policy makers at the US central bank, told the Wall Street Journal in an interview published Thursday that he backed another 75 basis-point increase in September, ... (full story)